X020242008-03-3100000910612CBL & ASSOCIATES PROPERTIES INCCBL0000936808LEBOVITZ CHARLES B2030 HAMILTON PLACE BLVD., SUITE 500CHATTANOOGATN3742160001110Chairman and CEOCommon Stock2008-03-314A015590A411365.9970DCommon Stock2985678.0000IBy CorporationCommon Stock9253.5770IBy SpouseCommon Stock30860.9940IBy TrustCommon Units0.00001993-11-032043-11-03Common Stock15840424.000015840424.0000DCompensation increase payable in Common Stock pursuant to the Issuer's Amended and Restated Stock Incentive Plan.The Common Units are exerciseable on a 1 to 1 ratio with no exercise price.The Reporting Person owns a limited partnership interest in CBL & Associates Limited Partnership, a Delaware limited partnership (the Operating Partnership), that, together with the partnership interests of other limited partners in the Operating Partnership which are controlled by the Reporting Person, may be exchanged at any time for an aggregate of 15,840,424 shares of the Issuer's Common Stock (on a one-for-one basis) or cash, at the Issuer's election./s/ Lebovitz, Charles B.2008-04-01